True or false. The interstate commerce act was created to regulate banks

The correct answer is: True

The Interstate Commerce Act tackled the railroad monopolies by setting guidelines on how the railroad companies could do business. The act became a law which demanded "just and reasonable" rates; prohibited special rates for individual shippers; prohibited favoritism in rates for shippers, or products; prohibited the pooling of traffic and established an Interstate Commerce Commission. The Interstate Commerce Act also regulated the bank industry monopoly practices as part of private business in general.